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Aspen Coin is following in Exodus' footsteps!
Jonah Schulman
October 17, 2022
The Security Token Market's first-of-its-kind Web3-enabled crowdfund on the Avalanche blockchain continues to trek on! 🔺
Here are some fast facts:
🌴 Miami-based
📊 Data data data
⛓ Focused on the convergence of securities and blockchain
📰 Cited in WSJ, Forbes, Yahoo Finance, and many more!
💰 Backed by SPiCE VC and 88 people from 5 continents!
Gooood morning, Rainmakers! ☀️
As always, I have two captivating topics for you to dive into:
1️⃣ 🤝 STM X Benzinga: We partnered with Benzinga! What does this mean?
2️⃣ 💸 Aspen Coin buyback program: Aspen Coin has announced a buyback program of their ASPD token to increase liquidity and market efficiency, but how much?
Without further ado, it's time to…
Get liquid 💧
Security Token Market 🤝 Benzinga
When we first started Security Token Market, there were zero platforms around the world to find any information regarding security token research and data.
That's where we came in.
We identified a gap and an unmet need some might say for investors and interested parties to conduct due diligence.
4 years later, we have created the largest, most security token-focused audience around the globe, with 10M+ organic impressions and 250K+ lifetime users.
But, as we like to do at all times is grow, grow, grow.
We are elated to officially announce our partnership with world-renown financial media firm, Benzinga!
The team had the pleasure to meet them at their Detroit HQ a few weeks back.
Benzinga was launched in 2010 by founder Jason Raznick and today the company is headquartered in Detroit, Michigan. Benzinga’s mission is to connect the world with news, data, and education that makes the path to financial prosperity easier for everyone, every day.
It's a pleasure to partner with such an outstanding member of the financial media world and we cannot wait to continue to spread the security token gospel to Benzinga's impressive audience.
Read the full release here:
⛷ Aspen Coin buyback
Guess who's back, back again with another security token issuer announcing another buyback program?
Aspen Digital, the company that wholly owns the tokenized portion (18.9%) of the St. Regis Aspen Hotel Resort, announced the authorization of a token buyback program of up to $250,000 purchased in the open market on tZERO!
Currently, the price of the ASPD token is at ~$1.00 and has been as high as $1.30 and as low as $.77.
The motivation for this decision comes down to the company believing that the current market price of the token does not reflect its intrinsic value and that this program is consistent with the objective of creating long-term token holders' value, improving liquidity and market efficiency.
The buyback program will commence on or around October 24, 2022, and will last for 60 days, at which point the Board will re-evaluate the Program.
If you do recall, almost a year ago, Exodus announced they would be doing a buyback themselves.
Here's a recap of Exodus and why they did it:
As a reminder, Exodus is one of the most prolific names in crypto who tokenized its shares and raised $75M earlier this year via a Reg A+ offering that enabled retail investors to participate.
Those shares commenced trading on the tZERO ATS shortly after!
At first, it seemed that the liquidity premium of private assets was in full effect, as it skyrocketed from $27.42 to $75+ on the first day of trading!
Unfortunately, not too long after, it dropped to $9, which was a price not representative of the value of the company at least in Exodus' minds.
I mean, after all, Exodus reported previously having over $150 million in liquid assets.
Exodus said they intended to execute share repurchases beginning on November 18, 2021, and the program will last through December 2022 or until $2 million of shares have been purchased and retired.
We'll see what happens with this buyback program, but considering the volume is usually pretty low, I think this program will achieve the goals of the Board and Aspen Digital.
If there's one thing for sure it's that Aspen Coin holders receive amazing perks including, discounts on their hotel stay among other rewards like this buyback program.
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Everything in this report is for informational and entertainment purposes only. Nothing in this report should be taken as financial advice or as an inducement to purchase or sell any security. Nothing in this market report should be used as legal advice. Always do your own research before making any decisions regarding financial transactions of securities.
Disclosures:
• No money or other consideration is being solicited, and if sent in response, will not be accepted;
• No offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement is filed and only through the platform of an intermediary (funding portal or broker-dealer); and
• A person’s indication of interest includes no obligation or commitment of any kind.
Carlos Domingo is a founder and general partner of SPiCE VC as well as CEO and Co-Founder of Securitize.